Credit Suisse Upgrades Teva Pharma (TEVA) to Outperform; 'Valuation Now a Treat'

October 31, 2016 7:11 AM EDT
Get Alerts TEVA Hot Sheet
Price: $33.23 -0.72%

Rating Summary:
    18 Buy, 21 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Credit Suisse upgraded Teva Pharma (NYSE: TEVA) from Neutral to Outperform with a price target of $52.00 (from $59.00), saying while some tricks may lie ahead valuation is now a treat.

Analyst Vamil Divan commented, "Given the sell-off in TEVA shares since May, we feel most of the risk around Copaxone and the US generics market is now priced into the shares. While some near-term risks do remain, our bull/bear scenario analysis suggests a bear case valuation of ~$41 but a bull case valuation of ~$63, highlighting an attractive risk/reward at current levels. We lower our blended (75% relative/25% DCF) base 12-month target price to $52 (from $59), suggesting ~23% upside from the last closing price."

For an analyst ratings summary and ratings history on Teva Pharma click here. For more ratings news on Teva Pharma click here.

Shares of Teva Pharma closed at $42.32 yesterday.

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